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20121213
20121213
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CNBC 1
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FOX News
Dec 12, 2012 4:00pm PST
mohammed morsi granted himself sweeping powers to push through the draft constitution. a constitution that the critics claim cobol officer hard line islamic policy. gag palkot following it all from cairo and streaming now. greg? >> hey, shep. things are relatively quiet here in cairo right now. but they are going to get noisy again. supporters and opponentses of egyptian president mohammed morsi get ready for a referendum on that draft constitution. actually it's going to happen over the next two saturdays due to a shortage of judges who have to act as election monitors. one main judicial group is calling the document an insults. the opposition is very much involved in this now. they have branded the constitution as promise and noninclusive. they want their followers to vote no. but they will be up against it. morsi's muslim brotherhood party has a good ground game, an excellent grassroots network and calling for rallies outside of mosques on friday. and they also play hard ball. a national unity meeting planned for wednesday was canceled. we were told 'cause morsi didn't want to show
CNBC
Dec 13, 2012 6:00am EST
mohammed al ariane has probably been more of a proponent of the new normal. i don't know whether that's a pimco idea, the firm that pimco came up with following the fiscal crisis -- not the fiscal -- financial crisis. if you still believe that, what if we never get to 6.5%. >> well, hi, joe. it's great to see you. you're exactly right. just a month ago chairman bernanke for the first time acknowledged that the u.s. has structurally lower economic growth. but we've been calling the new normal for the last few years. and you're exactly right. that means the fed, if you combine that with yesterday's announcement, that means the fed is going to be exceptionally easy for a long time, and that it could be a couple years or could be three, four years, maybe even longer, because unemployment is now structurally higher. we hope it's 6.5% is not the new naru, the new minimum unemployment. certainly it is increasing. the longer people stay unemployed the more structural it becomes. the fed is really in a box here. they're trying to engineer financial market outcomes. trying to raise the prices o
Search Results 0 to 1 of about 2